The Exeter Township Board of Supervisors gathered on Monday night to hear the presentation of the 2023 audit results. Stewart Morcom, from Withum Tax and Audit Services in Philadelphia, reported that the audit was clean with no issues to address. The total assets of the township were calculated to be $5,402,892 with liabilities at $52,7544 as of Dec. 31, 2023. The total fund balances were recorded at $3,993,031, with a cash balance of $3.6 million noted.
Strong Financial Position
Morcom highlighted that the proceeds from the wastewater treatment plant sale were $42,883,834, indicating a strong financial position for the township. Supervisor George Bell praised the increase in the balance due to earnings on higher interest rates, providing a cushion for future expenses. The township was described as very strong from a balance sheet perspective.
Revenue Surplus and Recognition
Revenues in the general fund exceeded the budgeted amount by over $200,000, driven by an unanticipated grant. Moreover, revenues surpassed expenditures by $450,754. The Reading Country Club exhibited a deficiency of $552,389 in revenues over expenditures.
Police officers Jacob Auman and David Qawasmy were honored with the Exceptional Duty Award for their outstanding work in narcotics investigations. Auman's investigations in 2023 and 2024 led to the arrest of six suspects on drug and firearms charges, with large quantities of illegal substances seized. Qawasmy's diligent work resulted in significant drug seizures and the unraveling of a fraudulent check scheme totaling over $20,000.
Zoning and Planning Decisions
The supervisors approved a final escrow release for Royal View Estates and the purchase of a vacant lot for $500. They also gave the green light for an agreement with Construction Masters Services LLC for the installation of headwalls as part of the Oley Turnpike Road culvert replacement project, withholding 30% of the contract until completion.
Upcoming Budget Workshops
Budget workshop dates were set for Oct. 14, Oct. 22, and Oct. 28, all scheduled at 6 p.m. Additionally, the 2023 audited financial statements were approved, along with the transition of the township pension plans to CBIZ Investment Advisory Services LLC from various other firms used previously.